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Should the foreclosure option be furloughed during the shutdown?

There may be 800,000 federal workers not getting paid right now, but the partial government shutdown affects numerous other people as well, and many live here in Texas. As time goes on, it is inevitable that some of those affected may not be able to make their mortgage loan payments. Some are calling for the foreclosure process to be put on furlough for those affected by the country's current political struggles.

After all, the shutdown is not the fault of the normal citizenry. They should not face such dramatic action by their mortgage lenders when the situation is out of their control. Once the shutdown ends and paychecks go out again, most could catch up. All they need is the time and freedom to do so.

The U.S. Department of Agriculture and the Federal Housing Administration both sponsor programs that help individuals who are behind on their mortgage payments. As the shutdown proceeds, these federal programs are not operating. This means that some homeowners here in Texas or elsewhere across the country whose loans are backed by these agencies could face foreclosure proceedings from their lenders.

The longer the shutdown goes, the larger homeowners' delinquencies could get. Instead of punishing them for the political environment in the nation's capital, they should receive some solace that they do not risk losing their homes to foreclosure during this time. However, even if that happens, there is no guarantee that a homeowner will be able to catch up on missed payments. In that case, it may be a good idea to begin considering other debt relief options such as bankruptcy.

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